| Affiliation: | The author is Associate Professor in the Department of Administrative Science, Naval Postgraduate School, Monterey, California. Data on earnings forecasts used in this study were taken from the Institutional Brokers Estimate System (IBES) published by Lynch, Jones &Ryan, New York. Access to historic IBES data was provided by Lynch, Jones &Ryan as part of an academic program to encourage earnings expectation research, and is greatly appreciated. Support for this project was provided by the Naval Postgraduate School Research Council. |
